[EMAIL PROTECTED] wrote:
Where were we... I believe it was at Esaul Sanchez' mendacity about Penn neither having any appropriate uses not enough money to fix up the property it bought at 400 S 40th. One wonders how the Nobel Laureates in the R.E. Dept at Penn came to the decision to buy property they apparently now say they can't justify application- or dollar-wise. Oh, yes. Economic rent seeking.
economic rent seeking: from wikipedia <http://en.wikipedia.org/wiki/Rent-seeking>:
"In economics, rent seeking occurs when an individual, organization, or firm seeks to make money by manipulating the economic and/or legal environment rather than by trade and production of wealth." ... "Rent seeking generally implies the extraction of uncompensated value from others without making any contribution to productivity, such as by gaining control of land and other pre-existing natural resources"
is this what you meant, al? how does it apply to the proposed hotel?
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